PNB is testing Upper Trendline in a downward channel.
Upper downsloping Trendline may act as resistance.
Short at 77.20 ( cmp )
Stop-Loss 81
Target 63.35
Risk 4.92% & Reward 17.94%
Risk Reward Ratio 1 : 3.65
MOMENTUM TRADE IN PNB
RISING OI+
RISING ABOVE 74 AFTER LONG TIME++
RESISTANCE BROKEN WITH RISE IN OPEN INTEREST+++
DEC FUT
BUY@74.5
STOP@72.75
TARGET@78.5
LOT:5500
QTY:1
Constant support on trendline on daily chart
20-dma providing support constantly
today there is a possibility of 20-dma crossover 50-dma
FUTURES TRADE NOV/DEC
INTRA-DAY TRADE
BUY@71.35
STOP@70.35
TARGET@73.85
IF BREAKS 74.5 AND CLOSES ABOVE
BUY@75
STOP@73.80
TARGET@83.85
LOT:5500
QTY:1
Case I: PNB is currently in the uptrend and the uptrend will get killed on Trigger II i.e. 67.4
Case II: Also, in the aggressive case, We can observe tilted HNS Pattern which will get triggered on Trigger I i.e. 69.
In both case, stop loss should be kept at 72.5
If the stop loss is touched, one should Stop And Reverse as it will be a continuation of the uptrend.
